2009.01.1305:11:00UTC+00UK Trade Deficit Widens Unexpectedly In November

Tuesday, the Office for National Statistics reported that the UK trade deficit unexpectedly widened in November to GBP 4.5 billion from GBP 3.9 billion in October. Economists were expecting the deficit to decline to GBP 3.7 billion.

The visible trade deficit totaled GBP 8.3 billion, larger than October's GBP 7.6 billion deficit. Trade in goods with EU nations showed a shortfall of GBP 3 billion, smaller than the GBP 3.2 billion deficit in the prior month. On the other hand, the deficit on trade in goods with non-EU countries stood at GBP 5.3 billion compared to GBP 4.4 billion in October.

At the same time, the surplus on trade in services increased to GBP 3.9 billion from GBP 3.8 billion.

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